in edit---F6-In a hostile t'over, a buyer bypasses management and solicits shareholders directly...that can involve by letter if a mailing-list of shareholders can be procured; or by media-ads to make known the offer. As soon as a buyer can obtain some majority percentage of the voting shares, litigation will push aside any management objections. Note that control can be had by 50+% of votes. Ownership would need about 85% of votes. redhot